Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

U.S. average insurance rates for a Chevrolet Corvette are $1,790 a year for full coverage. Comprehensive costs around $494, collision costs $922, and liability coverage is $264. Buying just liability costs around $312 a year, with insurance for high-risk drivers costing around $3,870. Teens pay the highest rates at $6,090 a year or more.

Average premium for full coverage: $1,790

Price estimates for individual coverage:

Rate estimates include $500 physical damage deductibles, 30/60 bodily injury liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all states and for different Corvette trim levels.

Price Range from Low to High

Geographic Price Range

Choosing to live in a large city has a large influence on auto insurance rates. Areas with sparse population have a lower frequency of accident claims than cities with more traffic congestion.

The price range example below illustrates the effect of geographic area on auto insurance rates.

The ranges above show why anyone shopping for car insurance should compare rates quotes for a specific zip code and risk profile, rather than using averaged prices.

Use the form below to get customized rates for your location.

More Rate Details

The chart below shows estimated Chevrolet Corvette insurance rates for additional coverage choices and driver risks.

• The cheapest rate after discounts is $977
• Raising to $1,000 deductibles will save about $320 a year
• The average rate for the average middle-age driver using $500 deductibles is $1,790
• Selecting more expensive low deductibles will increase the cost to $2,418
• Unlucky drivers with serious driving violations could pay at least $3,870 or more
• The price for full coverage for a teenage driver with full coverage can be $6,090

View Chart as Image

Insurance prices for a Chevrolet Corvette are also quite variable based on your driving record, the trim level of your Corvette, and deductibles and policy limits.

An older driver with no violations or accidents and high deductibles may only pay around $1,600 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even good drivers should be prepared to pay as much as $6,000 a year. View Rates by Age

The state you live in also has a big influence on Chevrolet Corvette insurance rates. A middle-age driver might find prices as low as $1,180 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,550 on average in Michigan, Louisiana, and New York.

View Chart as Image

Choosing higher comprehensive and collision insurance deductibles can reduce prices by up to $950 a year, while increasing your policy's liability limits will increase prices. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $237 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying at least $2,100 to $2,800 additional each year, depending on your age. High-risk driver insurance is expensive and can cost around 46% to 132% more than the average policy. View High Risk Driver Rates

Since prices can be so different, the only way to know your exact price is to compare prices and see how they stack up. Every auto insurance company calculates prices differently, and prices may be quite different from one company to the next.

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find the Best Chevrolet Corvette Insurance

Getting lower rates on auto insurance consists of being a safe and courteous driver, having a good credit history, eliminating unnecessary coverage, and taking advantage of discounts. Take the time to compare rates at every other renewal by getting quotes from direct carriers like Progressive and GEICO, and also from local insurance agents.

Below is a brief recap of the concepts that were covered in the above illustrations.

• Drivers who tend to receive serious violations may be required to pay an average of $2,080 more every year for auto insurance
• Teenage drivers are charged the highest prices, with premiums as much as $508 a month including comprehensive and collision insurance
• Drivers can save up to $230 per year simply by shopping early and online
• Increasing physical damage deductibles can save around $950 each year
• Drivers can save up to $230 per year simply by shopping early and online

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model